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2963 Capewood Ln San Jose, CA 95132

3 Beds 2 Baths 1,165 sqft Built 1963

$999,500

List Price

$3,180

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $857.94
  • 5 Days on Market
  • MLS # : ML81824256
  • Updated Date : 01/02/2021 at 11:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,165 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker The Professional Group

Listing Agent's Description

Wow! Come See This Beautiful Bright Home With Fresh Paint And In Turn-Key Condition. Great Floor Plan And Updated. Home Is Located In Desirable North Valley Near Public Transportation, New Bart Station By Great Mall, Close To Shopping, Restaurants, Marina Market, Target, Schools, Parks And Freeway. The Following Have Been Done Approx 3 years: Composition Roof, Copper Plumbing Throughout, Double Paned Windows, Energy Efficient Furnace, Air Conditioning Unit, Recessed Lights, Beautiful Crown Molding In The Ceilings Throughout, Upgraded Panel Doors , Remodeled Kitchen with Granite Counters And Ample Cabinets & Storage, Remodeled Bathrooms, Wall Lights in Bedrooms, New Front & Backyard Grass, Pipes & Auto Sprinkler System. Everyone Can Enjoy A BBQ Gathering In This Large Backyard . A Cozy & Comfortable Home Ready For New Buyers To Enjoy. A Must See!

SEE MORE

MARKET HIGHLIGHTS

  • San Jose metro's economy has been worth $282.2 billion in Gross Metro Product (GMP) in 2018 and is projected to grow to $298.6 billion in 2019. GMP measures the productivity of the metro. (USMayors.org, 2018)
  • San Jose metro employment growth has been at 2.2% in 2018 and predicted to grow at 1.9% in 2019 (USMayors.org, 2018)
  • San Jose metro contributes to 9% of California state's economy i.e. Gross State Product (USMayors.org, 2018)
  • Palo Alto, Redwood City, Mountain View and San Mateo together attracted around $11 billion in venture capital funding in 2019 making Silicon Valley still attractive to technology investments (Crunchbase News, 2020)
  • San Jose metro has 67.6% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Capewood

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $357k1220k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Capewood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17473804

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Laneview Elementary School Primary Regular 435 20 7
Morrill Middle School Middle Regular 729 33 7
Independence High School High Magnet 3,118 121 7

Laneview Elementary School

  • Education Level: Primary
  • # of students: 435
  • # of teachers: 20
7
GreatSchools Rating

Morrill Middle School

  • Education Level: Middle
  • # of students: 729
  • # of teachers: 33
7
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 3,118
  • # of teachers: 121
7
GreatSchools Rating
 

$899,550$1,099,450$999,500

PURCHASE PRICE

$2,862$3,498$3,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,180
EXPENSES Loan Payment -$3,688
Property Tax -$1,168
Property Insurance -$55
HOA -$255
Property Management Fees -$129
CASH FLOW
-$2,115

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$999,500

PROJECTED PRICE

$3,180

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 14.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,618

INVESTMENT

$270,618

Down Payment
$249,875
Rehab Estimate
$5,750
Closing Costs
$14,993

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$3,688

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,875
Loan Amount $749,625
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$51

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $3,336

    COMP ESTIMATED VALUE
  • $2.86

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,2503$3,3504$3,500
$3,500
RENT COMPS ANALYSIS
  • 2963 Capewood Ln San Jose, CA 1
    • 3 beds 2 baths ∙ 1,165 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,165 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3058 Capewood Ln San Jose, CA 2
    • 3 beds 2 baths ∙ 1,165 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,165 Sqft ∙ Built 1964
    property image
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.79
    •  
  • 2561 Northwood Dr San Jose, CA 3
    • 3 beds 2 baths ∙ 1,165 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,165 Sqft ∙ Built 1964
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.88
    •  
  • 1468 Canton Dr Milpitas, CA 4
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.92
    •  
PROPERTY LISTING DETAILS
Kathy Low
Coldwell Banker The Professional Group
BESbswy